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Equites Property Fund to raise 800M rand from shares issuance

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Equites Property Fund to raise 800M rand from shares issuance

Equites Property Fund Ltd. will issue 40,997,333 shares at 19.50 rand per share following the close of its book build to raise capital worth approximately 800 million rand.

The South African industrial real estate investment trust expects listing and trading of the shares to commence on the Johannesburg Stock Exchange June 1, subject to the bourse's approval.

Java Capital was the sole book runner of the issuance.

As of May 24, US$1 was equivalent to 12.45 rand.